The modern entertainment industry is replete with content creators of every kind. The digital space is particularly relevant at the moment, with so many individuals still socially distancing and spending a lot of time at home.
This has allowed the digital entertainment world to enter a golden age. Accelerated by the circumstances, artists everywhere are picking up their recording and production equipment and diving into the fray.
However, one question that these artists quickly face is how to have their voice heard amidst so much white noise. From distribution strategies to managing revenue and protecting their IPs, digital artists are facing some unique challenges.
The Growth and Challenges of the Entertainment Industry in 2020
It should come as no surprise that the entertainment industry has done very well over the course of the last year. That’s not to say that the success has been universal. In-person entertainment, such as theme parks, concerts, and sports events have all had their fair share of obstacles.
However, there are several areas of the industry that were ripe for success from the get-go. The rise of technology combined with pandemic behaviors has created a perfect storm in which digital media has thrived.
Quarantines, shelter-in-place orders, and a general trend to stay at home behind closed doors have created a massive shift in how consumers access their entertainment. Writing for Forbes.com, media consultant Brad Adgate reports that digital entertainment — things like streaming and video-on-demand — rose to $61.8 billion in 2020. This represents a robust 31% increase. In comparison, theatrical entertainment dropped from $42.3 billion (43% of total global entertainment revenue) to a meager $12 billion or 15%, respectively.
The number of individuals flocking to the online streaming scape also ballooned. Adgate relayed that by year’s end, there were 1.1 billion online video subscribers. This isn’t surprising as new players like Disney+ and Peacock launched during or just before the pandemic. Established streaming veterans like Amazon and Netflix also continue to relentlessly add to their streaming repertoire.
All of these seismic shifts have been great for artists operating in the digital entertainment space. But, as is the case with all rapid growth, it has also created some concerns.
Content creators, brands, producers, studios, and distributors have found themselves jockeying for position in a space that is much more crowded than it was a couple of years ago. Pirating is also an ongoing concern.
These challenges are where Aux Mode is looking to make a difference.
How Aux Mode Is Enabling Digital Brands to Stand Out
Aux Mode offers a solution to the complexities of the digital entertainment business. Content creators tend to vary in size. Smaller creators often operate with limited manpower and resources.
This can lead to missed opportunities, bungled administrational activities, and even an inability to protect their intellectual property. Aux Mode has created a powerful platform that allows creators, distributors, and others in the digital space to manage their companies more efficiently.
The innovative tool serves as a one-stop dashboard for managing revenue reporting, revenue splitting, and channel insights. Beyond the SaaS platform itself, the Aux Mode team also specializes in digital rights management, IP protection, content strategy, and reporting and monetization.
Aux Mode tends to break down its suite of services into three distinct areas: revenue reporting, channel growth, and content protection.
Aux Mode and Revenue Reporting
Aux Mode’s platform provides meaningful insights into financial data in relation to a client’s content. This powerful service is offered via automated monthly reports that reduce human error and provide a sense of consistency to the financial end of things.
The company’s proprietary tool is user-friendly and customizable. This allows them to meet the specific needs of each business.
The tool is a dream come true for accountants and, even more so, smaller content creators forced to do their own accounting. It streamlines the financial responsibilities of those in the digital space.
Aux Mode and Channel Growth
Aux Mode’s revenue reporting tools are great, but the company’s vision is much larger than operating as a glorified number cruncher. The platform also helps to maximize revenue.
As data is collected from various areas of a company, it’s analyzed and then used to enhance decision-making and marketing strategy. Aux Mode staffers also work with industry experts to create advertising-based video on demand (AVOD) revenue streams. They also offer CMS audit and training services for YouTube and even have a YouTube Revenue Calculator available right on their homepage.
All of this enables data-driven decisions which Aux Mode’s strategy team uses to build a foundation for long-term future success.
Aux Mode and Content Protection
One of the hardest things for digital artists to manage is their IPs. Protecting digitized intellectual property can be a nightmare, especially when the industry is in rapid stages of growth. The Wild West aspect of the internet these days makes it all too easy for consent to be misused.
Aux Mode addresses this by offering, in their own words, a “full service content protection plan helping rights holders manage their assets on YouTube.”
The company can create both per asset and per action plans, depending on the circumstances. This allows Aux Mode to tailor the service to the needs of each client, ensuring that their specific IPs are safe out there on the interweb.
Aux Mode Is Facilitating the Future of the Entertainment Industry
The world has shifted into a remote-friendly, digital-focused place at a very rapid pace. While there will doubtless be adjustments and changes over time, it doesn’t seem likely that the digital revolution will slow down any time soon, either.
With the digital transformation in full effect, Aux Mode is providing a critical service to a decentralized industry. As entertainment professionals continue to diversify and serve niche audiences, Aux Mode is ready to help them protect their IPs, monitor their revenue, and maximize their growth both now and far into the future.